News From Terre Haute, Indiana

Indiana Legislature

April 25, 2013

Budget deal calls for 5 percent income tax cut

INDIANAPOLIS — Indiana taxpayers will see their personal income tax rate reduced by 5 percent over the next four years under a budget plan agreed to by state lawmakers.

Gov. Mike Pence had sought a 10 percent cut as one of his signature campaign proposals, but lawmakers were initially cool to the idea.

Improved tax collection estimates earlier this month improved Pence’s chances in the waning days of the session.

The tax rate cut will be phased in in two steps starting Jan. 1, 2015.

Pence hailed the agreement today as a “great victory” for taxpayers.

The budget plan also calls for repealing the inheritance tax retroactive to Jan. 1 of this year.

State lawmakers must approve the budget before wrapping up their 2013 session.  They expect to adjourn Friday.

— Associated Press

1
Text Only | Photo Reprints
Indiana Legislature
Latest News
TribStar.com Poll
AP Video
Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Obama Hopeful on Ukraine, Will Watch Russians Crew Criticized Over Handling of Ferry Disaster Flamingo Frenzy Ahead of Zoo Construction Malaysia Plane: Ocean Floor Images 'Very Clear' Mayor Rob Ford Launches Re-election Campaign Agreement Reached to Calm Ukraine Tensions Today in History for April 18th Chelsea Clinton Is Pregnant Raw: Bulgarian Monastery Dyes 5000 Easter Eggs Calif. Investigators Re-construct Fatal Bus Cras Raw: Pope Francis Performs Pre-easter Ritual Raw: Two Lucky Kids Get Ride in Popemobile Author Gabriel Garcia Marquez Dead at 87 Diplomats Reach Deal to Ease Tensions in Ukraine Horseless Carriage Introduced at NY Auto Show Captain of Sunken South Korean Ferry Apologizes
NDN Video
My name is Cocaine Lohan Gets Candid About Her Sex List The 2014 New York Auto Show Meet Johnny Manziel's New Girlfriend Chelsea Clinton Announces Pregnancy Funny: Celebrating Easter with Martha Stewart and Friends Man Accuses 'X-Men' Director Bryan Singer of Sexually Abusing Him As a Teenager Man hit with $525 federal fine after he doesn't pay for soda refill Lea Michele & Naya Rivera Feuding? Jabari Parker declares for the NBA draft Singing Nun Belts Out Cyndi Lauper New West, Texas Explosion Video Swim Daily, Throwback Thursday Don't Be A Tattletale: Bad Bullying Tips For Students The trillest thoughts on marijuana "RHOA" Star Charged With Battery Grizzly Bears Get Snowy Birthday Party Weatherman draws forecast when another technical glitch strikes WGN Elizabeth Olsen's Sexy Shoot Bay Area Teen Gets Prom Date With Help From 'Breaking Bad' Star
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity